Solo Brands (NYSE:DTC) Shares Up 4.9% – Should You Buy?

Solo Brands, Inc. (NYSE:DTC)’s share price shot up 4.9% on Tuesday . The company traded as high as $7.77 and last traded at $7.01. 202,070 shares were traded during mid-day trading, an increase of 1,172% from the average session volume of 15,880 shares. The stock had previously closed at $6.68.

Solo Brands Trading Up 0.2%

The stock has a market cap of $14.52 million, a price-to-earnings ratio of -0.08 and a beta of 4.81. The firm has a fifty day simple moving average of $10.58 and a 200-day simple moving average of $12.25.

Institutional Trading of Solo Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in DTC. Millennium Management LLC bought a new position in shares of Solo Brands in the 3rd quarter valued at about $197,000. Barclays PLC boosted its stake in Solo Brands by 1,914,750.0% in the third quarter. Barclays PLC now owns 38,297 shares of the company’s stock valued at $749,000 after acquiring an additional 38,295 shares during the last quarter. Finally, Summit Partners L P acquired a new stake in Solo Brands during the 3rd quarter worth $21,522,000. 84.48% of the stock is owned by institutional investors.

Solo Brands Company Profile

Solo Brands, Inc (NYSE: DTC) is an omni-channel outdoor lifestyle company that designs, markets and distributes a portfolio of consumer-focused brands. The company’s core business centers on developing innovative products for outdoor cooking, recreation and hunting enthusiasts. Through a direct-to-consumer e-commerce model and relationships with specialty and mass-market retailers, Solo Brands brings its products to customers in the United States, Canada and select international markets.

The Solo Stove brand offers stainless-steel, smokeless fire pits, portable camp stoves and related accessories designed for backyard and backcountry use.